COTRUGLITECH· CODEX MERCATORUM
Chapter 21 · Friday 9 October — Art of Leadership (II)

The Meeting Where Everyone Was Right and Nothing Moved

Friday 9 October — Art of Leadership (II) · New CEOs

The table

Srđan JovanovićVice Chair of the Conference Board
The people at the tableannounced as the leaders confirm

The case

Subtitle: A fictional leadership case for discussion. Source: The owner's own case (Dražen Kapusta, 2026-09-13), verbatim — the eight questions are his. Its companion is chapter 4, the writer's essay on the same pattern.

At 11:47, the CEO realised they were having the same meeting for the fourth time.

The slides were new. The arguments were familiar.

The commercial director wanted to enter a neighbouring market while an important customer was willing to open doors. The finance director wanted stronger evidence that the expansion could pay for itself. Operations wanted to protect delivery to existing customers. The people director wanted to know who would run the new business.

Each had prepared properly. Each understood the company. Each could explain what might go wrong if their concerns were ignored.

The CEO had recruited this team herself. She trusted them.

At 12:03, she looked at the clock.

“Good discussion. Let’s tighten the assumptions and come back next week.”

Everyone nodded.

Outside the room, the commercial director called the prospective partner.

“We’re still working through a few things internally.”

“How much longer?”

He said he would know next week.

He had said that last week too.

An Opportunity with an Expiry Date

The company had built a strong position in its home market. Its next stage of growth would require reaching new customers, developing new capabilities or acquiring another business.

The neighbouring market offered a plausible first step.

An existing customer had introduced the company to a respected local distributor. The distributor offered access to established accounts and a team that understood the market. It wanted an initial commitment within three weeks so that both sides could prepare for the next commercial season.

The opportunity was attractive enough to deserve serious attention. It was uncertain enough to support several reasonable conclusions.

The commercial director saw a rare opening.

Finance saw a plan whose returns depended heavily on an optimistic sales ramp.

Operations saw a company already stretching its strongest people.

The people director saw an expansion with no credible local leader.

The CEO saw all four.

She wanted a decision the whole team could support. Each time she thought they were close, someone raised a concern she could not responsibly dismiss.

So she requested another round of analysis.

Four Different Decisions

After the fourth meeting, the CEO asked each director to send her one sentence describing the decision they believed the team was making.

The commercial director wrote:

“Do we accept the distributor’s offer before the opportunity disappears?”

The finance director wrote:

“Do we commit to a multiyear investment in a market where demand remains unproven?”

The operations director wrote:

“Do we divert capacity from existing customers to support expansion?”

The people director wrote:

“Do we establish a new business before appointing someone capable of leading it?”

She read the sentences twice.

They had spent hours discussing the same proposal while answering different questions.

Even their use of the word commitment differed. Sales meant authorising negotiations and initial customer meetings. Finance understood it to mean accepting the full expansion budget. Operations assumed that delivery promises would follow immediately.

The meeting notes had recorded “broad agreement on the strategic opportunity.”

That sentence concealed almost everything that mattered.

The AI Summary That Made It Look Settled

The team had recently begun using an AI assistant to prepare meeting summaries, compare forecasts and organise supporting material.

It worked well enough that nobody wanted to return to the old process.

After the latest meeting, it produced a concise summary:

“The leadership team supports expansion in principle, subject to financial validation, operational readiness and leadership capacity.”

The CEO recognised the sentence. It sounded like something she might have written.

It also allowed every director to believe that their condition would be satisfied before anything moved.

She asked the assistant to compare the four meetings.

It identified recurring concerns and listed outstanding actions. Several actions had appeared more than once under slightly different wording. “Validate demand” had become “strengthen customer evidence.” “Confirm capacity” had become “review operational implications.”

The wording had progressed. The underlying uncertainties had barely changed.

Then she asked it to separate established facts, estimates and assumptions in the expansion proposal.

Some confident statements rested on a single conversation. Several forecasts relied on the same distributor estimate, although they appeared in different presentations as if they were independent evidence.

The assistant also marked one concern as resolved because a manager had said, “That should be manageable.”

She corrected it.

The exercise was useful precisely because someone who understood the business was checking the output. It helped her see where the conversation had drifted, but it could not decide how much uncertainty the company should accept.

That responsibility was still hers.

The Consensus She Had Taught Them to Expect

The CEO believed in participation.

Earlier in her career, she had worked for a leader who announced decisions and invited discussion afterwards. She had promised herself she would build a different kind of team.

Her directors were encouraged to challenge assumptions. They had access to information. They could disagree openly.

Over time, however, she had made unanimity the unspoken condition for action.

A concern could keep a decision open indefinitely. Nobody had to explain what evidence would be enough to resolve it. Nobody had to compare the risk they feared with the cost of waiting.

The directors were behaving rationally.

Sales would be held accountable for missed growth. Finance would answer for an investment that failed. Operations would face the customers if delivery deteriorated. The people director would inherit an organisation built around exhausted managers.

Each was defending a real responsibility.

The CEO had never made clear how those responsibilities should be weighed when they conflicted.

Her team could contribute to a decision. It was much less clear how the decision would finally be made.

The Walk After Dinner

At a COTRUGLI gathering that weekend, she found herself discussing the expansion with two classmates.

They had spent years exchanging messages, helping each other with difficult introductions and meeting whenever work brought them to the same city. Their friendship had survived demanding group assignments, missed flights and long evenings when business conversations eventually became personal.

After dinner, the three went for a walk.

She described the team as cautious.

One classmate, who knew how carefully she had chosen her directors, asked:

“What happens when they disagree and the deadline arrives?”

“I try to get them aligned.”

“And if they still disagree?”

She paused.

The other classmate described an acquisition his team had rejected. They had a clear decision owner, a deadline and explicit conditions for proceeding. The process had worked, even though the answer was no.

Then he described an investment they had approved over his own objection.

“What made you support it afterwards?” she asked.

“My concern was recorded. We agreed what would show it was becoming real and what we would do then. I didn’t have to pretend I had changed my mind.”

The conversation stayed with her.

She had been asking her directors to agree about an uncertain future. Perhaps they could instead agree on who would decide, what justified the choice and how they would respond if the evidence changed.

Before they returned to the hotel, the classmates offered to challenge her revised decision brief in a short COlab session.

One would argue for expansion. One would argue against it. Both would question the cost of delay.

They knew her well enough to notice when she was using another thoughtful discussion to postpone an uncomfortable choice.

The Decision Behind the Decision

On Monday, the CEO cancelled the next round of presentations.

She sent the team a two-page brief.

It stated the opportunity, the actual deadline and the consequences of letting it pass. It separated what they knew from what they believed. It asked each director to identify their most important concern, the evidence behind it and the conditions under which they could support proceeding.

Three possible paths remained.

The company could commit to the full launch, securing the distributor’s preferred terms while accepting significant uncertainty.

It could negotiate a limited market test, with named customer opportunities, a spending ceiling and a temporary project leader. That would reduce the initial commitment, but the distributor might decline or offer less attractive terms.

Or it could decline the opportunity and protect resources for a different route to growth.

The limited test sounded attractive. The CEO was wary of choosing it simply because it felt easier to agree on.

A pilot would only help if it answered a question that mattered. Otherwise, it could become another way to postpone the decision while spending money.

She added one more requirement to the brief:

“State what your preferred option will require us to stop, delay or give up.”

For the first time, waiting appeared alongside the other choices with its own consequences.

Thursday, 9:00

The leadership team returned to the room.

The commercial director had spoken to the distributor and clarified which commitments were negotiable.

Finance had identified the assumptions that most affected the investment case.

Operations had defined the capacity the company could release without undermining existing delivery.

The people director had identified a possible temporary lead—and the work that person would need to hand over.

There were still gaps. There was still disagreement.

The CEO opened the meeting.

“Today we will decide what we are prepared to commit to. I want your strongest objections on the table. I will make the final call after we have examined them.”

She had also reserved the last twenty minutes for ownership, communication and review.

One director asked what would happen if the early results contradicted the plan.

“That is part of today’s decision too,” she replied.

At 9:06, they began.

The CDayZ Leadership Challenge

You are the leadership team entering Thursday’s meeting.

The opportunity has a deadline. Your information is incomplete. Each department has legitimate concerns, and the company cannot eliminate every risk before acting.

Choose whether to launch, negotiate a limited test or decline. You may propose another path, but it must fit the time and resources available.

Define who decides, what the company is committing to, who will execute and what evidence would trigger a review. Explain how dissent will remain useful after the decision has been made.

Discussion Questions

The owner's "Eight Questions for the Room":

  1. What is the precise decision this team needs to make?
  2. Frame it in one sentence that specifies the commitment, the deadline and the boundaries of what is being authorised.

  3. Why has a capable team remained stuck?
  4. Which concerns reflect necessary diligence, and which features of the CEO’s leadership or the company’s incentives keep the discussion open?

  5. Which uncertainties must be resolved before acting?
  6. What can only be learned through action, and how would you judge whether further analysis is worth the time it consumes?

  7. Who should make the final decision when informed people still disagree?
  8. What voice should each director have, and under what circumstances should a concern be strong enough to stop the proposal?

  9. Which path would you choose—and what would you give up?
  10. Compare a full launch, a limited test and declining the opportunity, including the consequences for current customers, management attention and future growth.

  11. How could AI improve the quality of this decision?
  12. What would you ask it to examine, which outputs would require verification, and where could its summaries or apparent confidence conceal unresolved disagreement?

  13. How would you use the COTRUGLI tribe before committing?
  14. Which experiences or perspectives would you seek, what assumptions would you invite peers to challenge, and how would you keep ownership of the decision within the company?

  15. What must be agreed before everyone leaves the room?
  16. Define responsibility, first actions, measures, a review date and the evidence that would justify continuing, changing course or stopping.

A Lesson for the Next COTRUGLI Generation

A leadership team brings together people who see different parts of the business. Those differences become valuable when the team can turn them into an explicit choice and coordinated action.

Leaders make that possible by defining the decision, giving disagreement a useful place, accepting responsibility and establishing how the organisation will learn after it moves.

AI can help expose assumptions, compare evidence and preserve the reasoning behind a choice. Trusted peers can challenge the leader’s habits and bring experience the room does not possess.

The COTRUGLI tribe gives those conversations depth through shared learning and shared life. People who know one another beyond their titles can ask the question that a polished boardroom discussion leaves untouched.

For this CEO, that question was simple:

“What happens when they disagree and the deadline arrives?”

Your comment on this chapter

A question for the table, a disagreement, what you would have done. The case lead reads every comment; the ones the table takes up enter the chapter as questions from the room, with your name.

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